Pre-market Movers In Healthcare Sector: CLRB, SNOA, PRNB, LPCN, TLC…

What’s moving these stocks in pre-market hours today?

In the Green

1. Cellectar Biosciences Inc. (CLRB) is up over 25% at $1.80 in pre-market trading Monday, on no news. The company’s lead product candidate is CLR 131 under a phase II study in relapsed or refractory multiple myeloma and lymphoplasmacytic lymphoma/Waldenstrom’s macroglobulinemia, dubbed CLOVER, and in a phase I dose-escalating clinical study in pediatric solid tumors and lymphomas. CLR 131 was granted Fast Track Designation by the FDA in lymphoplasmacytic lymphoma (LPL)/Waldenstrom’s macroglobulinemia in May of this year. Preparations are underway for the initiation of a pivotal study of CLR 131 that is expected to commence next quarter.

2. Sonoma Pharmaceuticals Inc. (SNOA) is up more than 22% at $9.25 in pre-market hours. The company announced second-quarter financial results on Friday, reporting net quarterly income of $1.0 million and revenue of $7.3 million, the highest revenue in its history.

3. Principia Biopharma Inc. (PRNB) is up over 11% at $101 in pre-market hours today as the company is all set to be acquired by Sanofi (SNY) for $100 per share in cash, which represents an aggregate equity value of approximately $3.68 billion. The transaction is expected to be completed in the fourth quarter of 2020.

4. Pluristem Therapeutics Inc. (PSTI) is up over 8% at $9.47 in pre-market trading Monday, following a non-binding Memorandum of Understanding (MOU) with the United Arab Emirates-based Abu Dhabi Stem Cells Center (ADSCC), a specialist healthcare center focused on cell therapy and regenerative medicine. The agreement enables the exchange of research findings, share samples, allow the use of equipment and testing, and other important activities related to advancing treatments and research of cell therapies for a broad range of medical conditions, including COVID-19.

5. Kitov Pharma Ltd (KTOV) is up over 7% at $0.56 in pre-market trading, gaining some of what it lost on Friday. A one-for-ten reverse split of the company’s American Depositary Shares is set to be implemented at the beginning of trading on August 21, 2020. The primary purpose of the reverse split is to enable Kitov to regain compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market, noted Kitov in an SEC filing.

6. Lipocine Inc. (LPCN) is up over 5% at $2.26 in pre-market trading today. The company’s investigational testosterone replacement therapy Tlando, which has been thrice rejected by the FDA, awaits a decision on August 28, 2020. The regulatory agency had turned down Tlando in June 2016, May 2018, and in November 2019.

In the Red

1. Taiwan Liposome Company Ltd. (TLC) is down more than 15% at $6.00 in pre-market trading Monday, losing some of what it gained on Friday. On Aug.14, the company announced the submission of an Investigational New Drug (IND) Application to the Taiwan Food and Drug Administration for TLC19 Hydroxychloroquine Liposome Inhalation Suspension for the treatment of coronavirus disease 2019 (COVID-19), sending the stock up as much as over 80% to an intraday high of $9.25 that day.

2. ThermoGenesis Holdings Inc. (THMO) is down over 10% at $4.25 in pre-market hours today. The company reported second-quarter financial results on Aug.14. The comprehensive loss attributable to common stockholders was $6.4 million, or $1.02 per share on net revenue of $2.2 million. That compared with a comprehensive net loss of $1.3 million or $0.47 per share and net revenue of $4.3 million in the year-ago period.

3. Midatech Pharma plc (MTP) is down over 8% at $2.50 in pre-market hours today, erasing some of its gains made on Friday. In an SEC filing, dated Aug.14, the company announced that its registration statement on Form F-1 relating to the permitted resale of up to 12.69 million ordinary shares, has been declared effective. The news had sent the stock up as much as 131% to an intraday high of $4.33 on Friday, before closing at $2.72, up over 45%.

4. Sypris Solutions Inc. (SYPR) is down more than 7% at $1.04 in pre-market trading today. In the second quarter, the results of which were announced last week, the company reported a net loss of $0.3 million or $0.02 per share on revenue of $17.2 million. This compared with a net income of $1.5 million, or $0.07 per share and revenue of $24.4 million for the prior-year period.

Source: Read Full Article